Improve profitability
There are many factors that combine to produce a successful business and maximising the profits you could realise. This dedicated area explores some key strategies for unleashing unrealised profit potential.
Can we help you improve your profitability?
We offer a lot more than basic tax and accounting services. - we also offer business advisory services designed to help you improve your profitability.
Hiring winning sales staff
Typically employers look at factors such as age, gender, and experience. But these do not always help you assess the potential success or failure as a salesperson.
Increasing your cashflow
We are all aware of the importance of maintaining a positive cashflow from month to month if we are to avoid a liquidity crisis and all the misery that entails.
Manufacturers need smart stock management
There are three powerful forces at work in the retail sector that are driving changes in the way manufacturers manage their stock.
No business is an island unto itself
Do you see your business as an island unto itself or as a vital link in a chain? Do you use process-based thinking to add value to your products or services?
Profit sharing is investing in your bottom line
A well-motivated and focused workforce is the key to achieving sustained improvements in profitability. And one of the best ways to motivate your workforce is to involve them in increasing profits and sharing in the results.
Remunerating for profitability
To ensure that wages and salaries are a profit-centre, not a cost-centre, for your business, it helps to tie them into profitability. Here are some ways you can do this.
Protect your business against a downturn
Small and medium-sized businesses are particularly vulnerable during economic turmoil. But all too often we see companies going under that could have stayed afloat if they had taken a few elementary precautions at the right time.
Small players - take advantage of your market share
Conventional wisdom says that the key to success is to increase your share of the market, which implies that businesses that command only a small market share are at a disadvantage. But this need not be the case.
Strategic alliances - help your business grow
Going for growth means learning to spot emerging opportunities and taking advantage of them quickly - before your competitors move in.
Three steps to cheaper financing
Sooner or later, most businesses have to turn to external sources to finance growth, whether it is to invest in new equipment or machinery, to purchase property, to upgrade technology, or to maintain cashflow while a new product line kicks in.
Wagstaffs is the trading name of Wags LLP. Wags LLP is a limited liability partnership in England & Wales, registration number OC317369. Wagstaffs Chartered Accountants are registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.